PHILIP M.

PEPIN
15417 NE 28th Avenue
Vancouver, WA 98686
(360) 576-0481 (Home)
(360) 991-9739 (Cell)
Professional Qualifications
Financial executive with diverse business experience in private industry and pub
lic accounting providing strategic, financial and operational management to a va
riety of companies in the retail, wholesale distribution, transportation and man
ufacturing industries. Proven ability to deliver cost effective, quality results
by integrating leadership, vision, people, communication, objectivity, technolo
gy, processes and relevant experience.
Professional Experience
VICE PRESIDENT, CHIEF FINANCIAL OFFICER, G.I. Joe's, Inc
CORPORATE SECRETARY Wilsonville, OR
September 1996 - April 2009
CONTROLLER
May 1994 - September 1996
G.I. Joe's, Inc. (dba Joe's Sports Outdoor & More) operated 31 retail stores thr
oughout Oregon, Washington and Idaho with a merchandise mix of a sporting goods,
sports and outdoor apparel, footwear and automotive and SUV accessories. The Co
mpany had 1,700 employees and annual revenues of $275,000,000.
Responsible for all facets of financial operations including banking and financi
al relationships, cash management, leases and lease financing, insurance and ris
k management, financial reporting, strategic planning, financial forecasting, ca
pital and operational budgeting, legal matters, employee benefits, information s
ystems (through 1999), general accounting, taxes, sales audit, accounts payable,
payroll and policies and procedures. Directed a full time staff of 26 including
a controller and 3 managers. Reported to the President / CEO and the Board of D
irectors.
* Managed the growth of the Company from 14 stores in 1997 to 31 stores in 2008
, taking annual revenues from $128,000,000 to $275,000,000 in 2008. Directed all
aspects of financial and administrative support to achieve the expansion.
* Completed a $120,000,000 private equity acquisition of the Company, liquidati
ng all shareholders.
* Successfully completed an $11,500,000 venture capital financing arrangement i
n order to recapitalize the Company, redeem preferred shareholders and provide w
orking capital for future growth.
* Renegotiated a revolving line of credit agreement resulting in increased borr
owing levels and fee and interest rate reductions with annual saving of $250,000
.
* Completed implementation of EDI technologies within accounts payable allowing
the Company to reduce staff levels and increase productivity through a period o
f growth.
* Prepared the Company for an initial public offering of common stock. Worked w
ith underwriters, attorneys and outside auditors to prepare a registration state
ment and prospectus. Addressed SEC, accounting and regulatory issues. Worked clo
sely with the underwriters in preparing the road show presentation that was pres
ented to analysts and fund managers around the U.S.
* Directed all financial aspects of a management led buy-out of G.I. Joe's incl
uding the sale of real estate, financing, capital structure, purchase accounting
, and tax related issues. Negotiated with lenders to retire existing debt and es
tablish a new $25,000,000 line of credit.
* Oversaw the development and implementation of an inventory cycle counting and
audit program within the retail stores and distribution center. This program, a
long with strengthened financial controls and improvements in point-of-sales sys
tems, contributed to inventory shrinkage reductions in excess of $1,000,000.
* Implemented continuous process improvement within financial operations result
ing in increased productivity, an 18% reduction in staff levels, achievement of
performance objectives, adherence to deadlines and overall cost reductions of ap
proximately $80,000 annually.
* Successfully negotiated long-term mortgage re-financings for five retail prop
erties and a distribution center / office complex.
* Overhauled the financial reporting system. Developed a series of meaningful m
anagement reports that provide key operating data on a daily, weekly and monthly
basis. Reduced the month end closing cycle time by five working days.
* Supervised the recovery of $350,000 of common area maintenance and property t
ax overcharges from a shopping center operator that had accumulated over a six y
ear period.
* Reduced professional fees more than $100,000 while increasing the value of se
rvices provided through improved management of professional services relationshi
ps and more effective in-house staff involvement in projects and recurring engag
ements.
* Improved the competitiveness of the Company's healthcare plan resulting in co
sts savings in excess of $200,000 annually. Negotiated with healthcare providers
to control or reduce healthcare costs wherever possible.
* Oversaw the successful installation and implementation of a mid-range compute
r system and PC network.
* Developed and prepared a comprehensive five year business plan, including fin
ancial and cash flow projections, and capital expansion plan.
* Created forecasting and cash management models to accurately forecast cash fl
ow and results of operations.
AUDIT AND BUSINESS ADVISORY MANAGER Arthur Andersen
September 1990 - May 1994 Portland, OR
* Managed all aspects of multiple client relationships with fees aggregating $1
,000,000 annually including the largest client engagement in the Portland office
, a multi-national company with worldwide operations.
* Assumed a leadership role within the professional staff of over 80 for recrui
ting, training and personal development. Instructed technical, industry and mana
gement skills, and continuing education courses and seminars.
* Established and directed the Portland office Consumer Products Industry Team,
 a group of partners, managers and professional staff focused on serving the nee
ds of the distribution, retail and transportation industries in the Pacific Nort
hwest. Added six new clients and performed numerous special products as a result
of consumer products marketing efforts.
* Analyzed business plans of emerging and established companies. Served as a ca
talyst for strategic decision making, including identification of growth opportu
nities, alternative management structures and decisions to restructure operation
s. Identified objectives and action steps to implement new strategies.
* Successfully directed a comprehensive inventory accounting and controls revie
w for a large retailer, supervising both client and firm personnel. Resulted in
the implementation of a detailed inventory management plan that provided savings
to the client in excess of $1,000,000.
* Participated in projects to re-engineer the structure and operations of finan
cing and administrative functions, analyze product line and customer profitabili
ty, optimize labor scheduling and management of labor costs, and analyze and des
ign internal controls.
CONTROLLER VWR Corporation
December 1988 - September 1990 West Chester, PA
VWR Corporation is a wholesale distributor of scientific and laboratory equipmen
t with approximately $425,000,000 in annual sales. VWR is a publicly traded comp
any with over 20 operating facilities through out the U.S and Canada.
* Responsible for general accounting, accounts payable, accounts receivable and
payroll operations. Managed a full time staff of 35, including 4 supervisors.
* In charge of internal and external financial reporting and analysis, corporat
e consolidation, SEC and other regulatory reporting, technical accounting matter
s, and preparing and maintaining accounting policies and procedures.
* Directed the successful relocation of accounting and payroll operations from
San Francisco to Pennsylvania. Recruited professional personnel to staff those f
unctions.
* Completed conversion to a new accounts payable system and implemtation of EDI
technologies which reduced accounts payable staff levels by 25%.
* Heavily involved in accounting for acquisitions. Managed integration of accou
nting operations of a $20,000,000 acquisition with operations in the U.S and Can
ada.
* Involved in financial planning, modeling, forecasting and budgeting.
* Administered a nation wide employee relocation program.
AUDIT DIRECTOR VWR Corporation
June 1988 - December 1988 Bellevue, WA
* Developed, implemented and administered the internal audit function.
* Staffed the internal audit department with professional personnel.
* Implemented a program to analyze internal controls and assess key risks withi
n VWR's operations.
* Created a multi-location audit plan based on internal control and risk assess
ment.
* Prepared and presented audit reports and finings to senior management and the
Board of Directors.
* Performed special projects and analyses for senior management including gross
margin and profitability studies.
AUDIT MANAGER (after successive promotions) Arthur Andersen
December 1982 - June 1988 Seattle, WA
* Responsible for managing professional relationships with a diverse client bas
e.
* Specialized in commercial audit with an emphasis on publically traded compani
es.
* Coordinated a worldwide, multi-location forest products company audit engagem
ent for the largest audit client in the Seattle office.
* Participated in the design and implementation of EDP auditing techniques. Per
formed and supervised EDP control reviews.
* Performed purchase in investigations. Assisted clients in the execution of in
itial public offerings and ensured compliance with SEC reporting requirements.
PROFESSIONAL AFFILIATIONS AND EDUCATION
Certified Public Accountant licensed in Oregon - inactive status
American Institute of Certified Public Accounts
Oregon Society of Certified Public Accountants
B.A. Business Administration and Accounting, Summa Cum Laude, Seattle University